A Documentary on Ripple vs. SEC is Launching in the Metaverse
Produced by MContent and Amsterdam-based Insight TV alongside Villain Studios, the plot of the documentary borders around Ripple’s ongoing legal battle with the U.S. Securities Exchange Commission (SEC) since 2020.
Per the report, the Ripple vs SEC Saga will launch in MContent’s Cineverse, a VR theater created within the metaverse project developed in partnership with PwC.
To watch “Ripple vs SEC” in the Cineverse viewers need to use Oculus VR headsets or augmented reality glasses. Aside from the virtual reality theater, the documentary is also available on MContent’s tokenized streaming platform.
“The immersive cinema experience, designed in collaboration with PwC, has global scalability and mass adoption capability,” Umair Masoom, founder and CEO of MContent, said in a statement.
SEC vs Ripple Drama Continues
In late 2020, the SEC accused Ripple of raising $1.3 billion in unregistered digital asset securities by selling its native XRP coin. According to the SEC's key claim XRP is not a currency, but a security and therefore subjected to securities laws and therefore had breached its laws.
Meanwhile, the blockchain company has maintained that its digital token is not a security but a currency.
The argument has led to a long-term battle that has lasted for more than a year, with both parties not willing to reach a settlement agreement. At the moment, Ripple’s response to SEC’s request to redact some portions of meeting’ minutes with the agency and other third parties is due on April 4, 2022.